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Essentials of Marketing

   

Added on  2020-11-23

15 Pages5048 Words92 Views
Marketing Essentials

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1: Roles and responsibilities of marketing functions................................................................1P2: Roles and responsibilities of marketing related to organisational context...........................3TASK 2............................................................................................................................................5P3: Compare ways to use elements of marketing mix................................................................5TASK 3............................................................................................................................................7P4: Basic marketing Plan............................................................................................................7CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13

INTRODUCTIONMarketing is a process of reaching the information about the products and services to thecustomers with an aim of attracting and influencing their interest and buying behaviour whichincreases sales figure and revenue of an organisation. It mainly consists of 7 components whichincludes product, price, place and promotion, people, process and physical evidence. Marketingactivities includes selling, purchasing, advertisement and also delivering products and services tothe customers. The marketing manager play an important role in formulation of an effectivemarketing plan in order to direct their department to execute marketing activities in moreeffective and efficient manner. The present assignment report is based on McDonald which isAmerican fast food company deals in offering multiple variety of food products such ashamburgers, chicken products, French fries, beverages etc. The project report includes roles andresponsibilities of marketing functions and its how they are interrelated with other departmentsin an organisation. Marketing mix of MacDonald along with its competitors Burger King arediscussed under this report. All other aspects are also summarised under this report with thecontext of McDonald (Arguello, 2013).TASK 1P1: Roles and responsibilities of marketing functionsMarketing: It is the process of reaching products and services to the customers with anaim of attracting and influencing their buying behaviour which enhances their sales and revenue.It is an effective way of informing customers about the quality, price and benefits of productsoffered by them in market.Therefore, the marketing managers of McDonald are responsible to formulate all plansand policies that will help company in reaching to their targeted customers and convince them tobuy their products in order to maximise their level of satisfaction. Marketing manager performsseveral roles and responsibilities which are determined as below:Identifying the changes in the needs and preferences of customers through making aneffective research.Analysing competitors pricing strategies in order to set up an effective prices whichincreases the chances of shifting new customers towards company's products andservices.1

Making an effective decision regarding adoption of various marketing tools andtechniques in order to grab an interest and buying behaviour of customers acrossworldwide. Advertising through TV, print media, social media etc. are such marketingtools. Therefore, such duties are liable to to performed by marketing manager of McDonald soas to increase their customer base and retain them for longer period of time (Bačík, Štefko andGburová, 2014).About McDonald:It is an American fast food company which has operated its 36900 outlets in more than100 countries due to which the company has generated huge revenue every year. According tothe company's report, the revenue earned by them in the year of 2016 is approx. $24.622 billionwhich makes them one of the largest restaurant chain. It has attained over 375,000 workerswhich assist company in serving products and services to more than 69 million customers everyday.Roles and responsibilities of marketing functions:There are mainly seven functions of McDonald and their roles and responsibilities aredescribed as below:Product: It refers to a material or substance which is produced by company for thepurpose of meeting customer's needs and requirements in market. The main thing towards whichthe customers are easily attracted is quality. McDonald is popular for the quality of their productsdue to which it has attained strong customer base across worldwide. Conducting research onregular basis will help in identifying the changes in taste and preferences and accordingly informmanagement to make improvements in their menu cards (Cleverley, 2017). Selling: This the last stage at which the company finally deliver their products andservices to their customers. Every organisation wants to increase their sales figure due to whichthey need to get support from marketing department to advertise their products in order to attractlarge number of customers. The marketing manager should required to adopt an effectivedistribution channels through which they can reach their products to the final customers.Pricing: It is an important factors which largely affects the interest and buying behaviourof customers therefore must required to identify the capabilities and willingness of customer topay for products and accordingly set an effective pricing strategies that will help in maximising2

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